Insider Selling: Semtech (NASDAQ:SMTC) CEO Sells $266,000.00 in Stock

Semtech Corporation (NASDAQ:SMTC) CEO Hong Hou sold 2,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $133.00, for a total transaction of $266,000.00. Following the completion of the transaction, the chief executive officer directly owned 64,799 shares of the company’s stock, valued at approximately $8,618,267. The trade was a 2.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Semtech Trading Down 5.6%

Semtech stock opened at $127.65 on Friday. The stock has a market cap of $11.89 billion, a P/E ratio of -327.31 and a beta of 2.31. Semtech Corporation has a fifty-two week low of $46.02 and a fifty-two week high of $177.35. The firm’s fifty day moving average price is $149.41 and its 200-day moving average price is $108.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.62 and a current ratio of 2.37.

Semtech (NASDAQ:SMTC) last posted its quarterly earnings data on Tuesday, May 26th. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. Semtech had a positive return on equity of 18.31% and a negative net margin of 3.05%.The company had revenue of $291.02 million during the quarter, compared to analyst estimates of $283.53 million. During the same quarter last year, the company earned $0.38 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Semtech has set its Q2 2027 guidance at 0.590-0.630 EPS. Equities research analysts forecast that Semtech Corporation will post 1.81 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. FNY Investment Advisers LLC boosted its stake in shares of Semtech by 900.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 200 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 180 shares in the last quarter. Allied Private Wealth LLC purchased a new position in Semtech in the 2nd quarter worth $65,000. Banque Cantonale Vaudoise bought a new stake in Semtech in the first quarter worth $33,000. IFP Advisors Inc bought a new stake in Semtech in the fourth quarter worth $53,000. Finally, Sound Income Strategies LLC purchased a new stake in Semtech during the fourth quarter valued at about $60,000.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SMTC. Oppenheimer set a $200.00 price objective on Semtech in a report on Wednesday, May 27th. Stifel Nicolaus lifted their target price on shares of Semtech from $157.00 to $188.00 and gave the company a “buy” rating in a research report on Wednesday, May 27th. Northland Securities cut shares of Semtech from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. B. Riley Financial increased their price target on shares of Semtech from $165.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Semtech from a “hold” rating to a “strong-buy” rating in a research report on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $189.07.

Semtech Company Profile

Semtech Corporation is a leading supplier of high-performance analog and mixed-signal semiconductors and advanced algorithms. The company’s products address a broad range of applications in the Internet of Things (IoT), data center and telecom, industrial, home automation, automotive, and aerospace markets. Semtech’s portfolio includes power management, signal integrity, protection devices, wireless and sensing technologies that enable smarter, more connected systems worldwide.

A core offering from Semtech is its LoRa® technology, a low-power, long-range wireless communication platform that has become a de facto standard for global IoT deployments.